Ardee Industries is set to open its Initial Public Offering (IPO) for subscription on August 5, 2026. According to the Red Herring Prospectus (RHP), the ₹425.87 crore IPO comprises a fresh issue of up to ₹320.00 crore and an Offer for Sale (OFS) of up to ₹105.87 crore by existing shareholders.

The IPO will be available for subscription from Wednesday, August 5, 2026, to Friday, August 7, 2026, with anchor investor bidding scheduled for Tuesday, August 4, 2026. The basis of allotment is expected to be finalised on August 10, 2026, and the shares are tentatively scheduled to be listed on both the NSE and BSE on August 12, 2026.

Ardee Industries IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹425.87 crore
Fresh Issue: Up to ₹320.00 crore
Offer for Sale (OFS): Up to ₹105.87 crore
Face Value: ₹2 per equity share
Price Band: ₹50 to ₹53 per share
Lot Size: 281 shares
Minimum Investment Amount (Retail Investor): ₹14,893 (281 shares at the upper price band)
Listing: BSE, NSE
Book Running Lead Managers: Pantomath Capital Advisors Private Limited
Registrar: KFin Technologies Limited

Ardee Industries IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	5 August 2026
Subscription Closing Date	7 August 2026
Basis of Allotment Date	10 August 2026
Refund Initiation Date	11 August 2026
Credit of Shares	11 August 2026
Listing on BSE and NSE	12 August 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Ardee Industries IPO Category-wise Investment Limits

The application size for each category is as follows -

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not more than 50% of the Net Issue
Non-Institutional Investors (NIIs)	Not less than 15% of the Net Issue
Retail Individual Investors (RII)	Not more than 35% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹53 per share, is as follows -

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	281	₹14,893
Retail (Maximum)	13	3,653	₹1,93,609
sNII (Minimum)	14	3,934	₹2,08,502
bNII (Minimum)	68	19,108	₹10,12,724

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Funding incremental working capital requirement of the company
Repayment and or, prepayment, in full or in part, of certain outstanding borrowings availed by the company
General corporate purposes.

About Ardee Industries Limited

Ardee Industries is one of India's leading circular economy companies, specializing in the recycling of end-of-life energy storage products and non-ferrous metal scrap. The company manufactures pure lead and customized lead alloys used across industries such as energy storage, e-mobility, automotive, and chemicals.

The company has an installed recycling capacity of 156,950 MTPA and generates revenue through the sale of recycled and refined non-ferrous metal products in domestic and international markets. By recovering critical metals from waste, Ardee Industries supports India's circular economy and reduces dependence on imported resources.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	1,167.65	742.74	462.96
EBITDA	147.08	65.93	28.06
Profit After Tax	84.68	33.27	8.95